Celeb-Backed Vegan Burger Chain Neat Shuts Final UK Sites After Series of Global Closures

Neat, the vegan burger chain backed by Sir Lewis Hamilton & Leonardo DiCaprio, has shut its remaining UK locations, after a spate of closures over the last 18 months.

Popular plant-based fast-food chain Neat has closed its two remaining sites in the UK, where it originated in 2019.

The celebrity-backed burger restaurant – which has had over a dozen locations in four countries – now only has two sites remaining in Milan, following closures in London, New York City and Dubai over the last 18 months.

The closure of the Camden and Wembley stores in London will potentially affect 150 jobs, and follows a challenging financial period for Neat.

“We have no further comment at this time, other than to confirm that the business has taken the difficult decision to close its UK restaurants,” a company spokesperson told The Sun, which first reported the news.

Neat’s UK closure marked by mounting losses

Previously called Neat Burger, the chain opened to much fanfare in 2019, with Formula One legend Sir Lewis Hamilton an early backer, and actor Leonardo DiCaprio and footballer Thibaut Courtois joining as investors in subsequent rounds.

The company has raised over $25M and was valued at $100M in 2023, when it charted a path for expansion both domestically and outside the UK. However, this followed years of Covid-19-related turmoil for hospitality and foodservice businesses, and Neat wasn’t immune to the fallout.

In 2022, the company posted a £7.85M loss, up by 145% from the £3.2M loss reported in 2021. (Its 2023 accounts are overdue by a month, according to the UK’s Companies House.

This led to the closure of five UK restaurants in 2023, halving its footprint in the country. The chain also shelved plans to open four more locations here. The company attributed the losses to a drop in footfall in London’s financial district and West End due to the rise of post-pandemic hybrid working patterns, as well as a decline in demand for food delivery.

“We believe that sometimes, taking a step back is necessary to make a bigger leap forward,” Neat said at the time. “We remain deeply committed to our mission of providing delicious, sustainable, plant-based dining, and are excited about our future growth prospects.”

While it had earmarked more restaurant openings in the US and the Middle East, over the course of 2024, its existing sites in these countries shut their doors too. This was followed by the closure of Neat’s outposts in London Victoria and Soho, and the departure of co-founder and director Zack Bishti.

Vegan restaurant closures continue

It has been tough going for the restaurant industry, and plant-based concepts haven’t been spared either. In the UK, restaurants are closing at the fastest rate in a decade – over 1,400 eateries shuttering between September 2023 and 2024, a 19% increase from the period 12 months prior. Rising ingredient, utility and rental costs have put more than 10% at an “imminent” risk of closure, experts say.

Since 2024, vegan fast-food restaurants The Vurger Co, Frost Burgers, Donner Summer, and JJ’s Vish and Chips all closed their doors, while Flower Burger exited the UK market. Bristol-based group Oowie, which had been expanding with a vegan-only approach, is now focusing on growing its diner-style restaurants with meat. In October, it turned a plant-based location into one serving animal products.

That trend is being seen in the US too, with Hot Tongue Pizza, Elf Cafe, Burgerlords, Margo’s, and Sage Regenerative Kitchen all adding animal proteins to their meat-free menus. The latter wound down earlier this year, becoming one of a number of casualties in Los Angeles’s restaurant industry.

Neat’s UK closure is the latest example that even celebrity backing may not be enough to survive in this landscape. In LA, Matthew Kenney’s VEG’D and Kevin Hart’s Hart House shut their doors in 2024, while in the UK, Made in Chelsea star Verity Bowditch and YouTuber Mikey Pearce’s Clean Kitchen Club closed its last remaining site in January, nine months after introducing meat on its previously vegan menu.

Meanwhile, Deliciously Ella also closed its Plants by DE eatery in Mayfair following its acquisition by Hero Group in September, despite retaining the restaurant in the deal.

In an encouraging sign, two months after Unity Diner – the vegan fast-food restaurant co-owned by animal activist Ed Winters (aka Earthling Ed) – announced its closure due to rising costs, it successfully negotiated a new deal with its landlord and reopened in its original location in East London.